Posts tagged "property division"

Ohio couples who are in the process of divorce have many issues to consider, with one of the most important being what will happen to their home. Sometimes couples can come to an agreement on their own about their house, but other times, a judge must decide.

Some financial implications of getting divorced in Ohio are obvious to everyone. Each spouse will receive an equitable share of the marital property, meaning each will have significantly fewer financial resources than before. Assets usually subject to division include the family home, bank accounts and investments.

From the outside, if a marriage has lasted 20 or more years, it may seem like a safe assumption that both spouses are in it for the long haul. In fact, many observers say that “gray divorce,” or divorce later in life, is on the rise in the U.S.

Many times, one of the most important marital assets to be disposed of in a divorce is a small business. Starting a business with your spouse may help the two of your realize your entrepreneurial dreams, but it is not a guarantee that you will not need to get divorced someday.

For most homeowners the Columbus area, the house is the most valuable thing they own. Besides that, the house is often the setting for many warm memories. It may be the first place you and your spouse bought together, and the place where your children have grown up.

It is fair to say that when a married person wants a divorce, his or her spouse usually is aware, at least on some level, that something is wrong. But sometimes, a spouse files for divorce and it comes straight out of the blue for the other spouse.

Every divorce is unique in some way, because it is happening to two unique individuals. Still, the reasons divorcing people give for the split can be put into several recognizable categories. One of the most common reasons for divorce is money.

Once a divorce is complete and the property has been divided as agreed upon by the former spouses or ordered by the judge, each ex can do with their stuff as they want. For example, one spouse may get the house. He or she may wish to keep the house, especially if he or she has sole custody of the children, or it may be wiser to sell it and move into a smaller, more affordable place.

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